Brightminds Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 03619051

		31 December 2024		30 June 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		13,644		-
Tangible Assets	5		5,985		-

			19,629		-
CURRENT ASSETS
Stocks	6	70,392		131,590
Debtors	7	157,055		19,132
Cash at bank and in hand		81,289		14,864

		308,736		165,586
Creditors: Amounts Falling Due Within One Year	8	(129,065 )		(145,550 )

NET CURRENT ASSETS (LIABILITIES)			179,671		20,036

TOTAL ASSETS LESS CURRENT LIABILITIES			199,300		20,036

Creditors: Amounts Falling Due After More Than One Year	9		(4,167 )		(19,167 )

NET ASSETS			195,133		869

CAPITAL AND RESERVES
Called up share capital			223,497		79,258
Share premium account			650		650
Profit and Loss Account			(29,014 )		(79,039 )

SHAREHOLDERS' FUNDS			195,133		869

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Brightminds Limited

Balance Sheet (continued)

As At 31 December 2024

For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

B A Ricketts

Director

19/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Brightminds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03619051 . The registered office is Ryefield House Hackness Road, Scalby, Scarborough, YO13 0QY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are being amortised over their useful life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

10% Reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 3 (2023: 5)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 July 2023	32,495	-	32,495
Additions	-	15,160	15,160

As at 31 December 2024	32,495	15,160	47,655

Amortisation
As at 1 July 2023	32,495	-	32,495
Provided during the period	-	1,516	1,516

As at 31 December 2024	32,495	1,516	34,011

...CONTINUED

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Brightminds Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

Net Book Value
As at 31 December 2024	-	13,644	13,644

As at 1 July 2023	-	-	-

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 July 2023	1,000
Additions	6,650

As at 31 December 2024	7,650

Depreciation
As at 1 July 2023	1,000
Provided during the period	665

As at 31 December 2024	1,665

Net Book Value
As at 31 December 2024	5,985

As at 1 July 2023	-

6. Stocks

	31 December 2024	30 June 2023
	£	£
Stock	70,392	131,590

7. Debtors

	31 December 2024	30 June 2023
	£	£
Due within one year
Other debtors	157,055	19,132

8. Creditors: Amounts Falling Due Within One Year

	31 December 2024	30 June 2023
	£	£
Trade creditors	64,395	95,915
Bank loans and overdrafts	10,000	10,000
Other taxes and social security	842	1,190
VAT	14,928	11,855
Other creditors	37,200	13,796
Accruals and deferred income	1,700	12,794

	129,065	145,550

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Brightminds Limited

Notes to the Financial Statements (continued)

For the Period 1 July 2023 to 31 December 2024

9. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024	30 June 2023
	£	£
Bank loans	4,167	19,167

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